The Introduction of New Technologies to Production Is ________ Source

question 108

Multiple Choice

The introduction of new technologies to production is ________ source of productivity improvement.

• A)the most important
• B)the only
• C)the least important
• D)no longer a

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Definitions:

Excise Tax

A type of tax charged on goods and services produced within a country, often imposed on specific items like tobacco and alcohol.

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity demanded by consumers, typically downward-sloping.

Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity of it that producers are willing and able to sell.

Equilibrium Quantity

The quantity of goods or services at which quantity demanded equals quantity supplied, leading to market equilibrium.